Angola: Angolan economic growth at least 3 pct this year, Economy Minister says

12 March 2009

Lisbon, Portugal, 12 March – Angolan economic growth will be at least 3 percent this year, Angola’s Economy Minister Manuel said Tuesday in Lisbon.

The minister was speaking at a business seminar organized as part of the two-day state visit to Portugal by Angolan President, José Eduardo dos Santos, which ended Wednesday.

“Angola will continue with its economic growth. It will not go through a recession. It will continue to grow at a rate of over the growth rate of the population, which is estimated at 3 percent,” he said.

At the end of the seminar, organized by the Portugal-Angola Chamber of Commerce and Industry and by foreign and private investment promotion agencies in Portugal and Angola, AICEP Portugal Global and ANIP, respectively, Júnior told Portuguese news agency Lusa that the Angolan parliament was expected ‘in the middle of this year” to discuss a budget adjustment.

The current Angolan state budget sets the benchmark oil price at US$55 per barrel and, according to Júnior, Angola implemented the budget in the first quarter with a benchmark price fo US$35 per barrel. (macauhub)